Friday was a busy day for the Oriel Park side as a deal was struck with consortium and a promising teenager was sold on to the English Premier League

Dundalk have announced that an agreement has been reached for the sale of the club.

A club statement reads in full:

"Following discussions held in Oriel Park on Friday morning between Dundalk FC, representatives of a local consortium and the Dundalk FC Community Trust – an agreement in principle has been reached on the transfer of ownership of Dundalk Football Club.

While there are a number of legal issues that need to be finalised, all parties are now confident that all the major obstacles have been successfully negotiated.

Consortium representative Ciaran Bond stated: “Our immediate plan is to stabilise the club’s finances. This will be achieved through a three-year sponsorship package that will be factored around current sponsorship frameworks. The due-diligence process has revealed that the financial situation at the club is much more serious than anticipated.”

“The successful conclusion to these negotiations, while bringing stability to the club, does not solve all the club’s problems. We have already this morning addressed a very serious creditor that demanded immediate attention. A major concerted effort will be required between now and the end of the season”.

The consortium and the Trust have been working closely together in recent weeks to put in place a long-term plan to safeguard the club’s future.

Trust representative Colm Murphy stated: “The Dundalk FC Community Trust is now working with the consortium to put together a short and long-term plan to secure a sustainable future for the club. Both the Trust and the Consortium are working towards implementing a supporter-orientated community owned model that we believe we will bring both short-term stability and long-term growth to Dundalk FC.

“The next few months will be very busy as we seek support from supporters and the community so that we can put the club on a firm footing. Upcoming matches and fundraisers are hugely important and we encourage everybody to give their support to these events”.

Current Dundalk FC Owner Gerry Matthews stated: “This deal will save the club as it was likely that the club would have closed if agreement had not been reached. This will bring stability to Dundalk FC and I wish everybody who will bring the football club forward every success. I support them 100 per cent in their endeavours”."

Meanwhile, Dundalk have also confirmed that right back Ben McLaughlin has signed a three-year deal with English Premier League side Everton.

The 17-year-old has impressed since breaking into the Lilywhites' first team this season.

The club said in a statement:

"Dundalk Football Club can confirm that 17-year-old local Ben McLaughlin has today formally agreed personal terms and signed a three-year professional contract with Everton Football Club. This follows both clubs agreeing terms earlier in the week.

We wish to take to take this opportunity to congratulate all clubs, coaches and managers who contributed to Ben’s development within the Dundalk Schoolboys League notably Quay Celtic, Glenmuir and Seatown and their repesentative teams where Ben captained their side at the Kennedy Cup and Milk Cup.

We also would like to congratulate the coaches within the North East emerging talent centre but most importantly Ben’s parents who contributed to moulding Ben into the excellent individual he has become.

Dundalk Football Club wish to thank Everton Football Club and their chief recruitment officer in Ireland Mr Paul Hamilton for their co-operation and professionalism in dealing with this matter and also wish Ben every success in his new career with Everton FC and thank him for his commitment and dedication to our club in his time spent with us.

We can also confirm that a friendly with an Everton XI in Oriel Park has been agreed between both clubs as part of the deal."